Downside of EUR/AUD Should be Contained

Trading in the pair is neutral for consolidation from temporary top 1.5656. Pivot points are at: (S1) 1.5435; (P) 1.5513; (R1) 1.5567.

Trading above 1.5656 will extend a medium term growth from 1.3624 to 61.8% projection of 1.3624 to 1.5226 from 1.4949 at 1.5939. Downside should be contained.

Corrective drop from 1.6587 has completed at 1.3624. The pair can retest key resistance 1.6587. Overcoming of 1.6587 will resume a long term growth from 1.1602.